CBSM's participation in the Meetings was preceded by extensive preparatory efforts aimed at strengthening the Central Bank's international relations, which culminated in the signing of a Memorandum of Understanding with the Malta Financial Services Authority (MFSA) on October 3.
The preparatory activities have also facilitated successful discussions during the Annual Meetings with several regulatory authorities from the European System of Central Banks (Italy, France, Greece, Malta, and Belgium). These discussions focused on potential cooperation with CBSM within the framework of San Marino’s European integration process.
Catia Tomasetti, President of CBSM, emphasized that “the current global geopolitical landscape, further exacerbated by the recent crisis in the Middle East, highlights the pressing need for enhanced collaboration among regulatory authorities. This cooperation is essential for effective information exchange and ultimately strengthens the joint and coordinated supervision of financial systems by the respective regulatory authorities.”
Andrea Vivoli, Managing Director, pointed out that “San Marino's long-standing commitment to transparency has positioned its regulatory authorities as proactive players on the international stage. The Central Bank of San Marino is determined to take an active role in fostering and supporting closer cooperation among supervisory bodies, starting with member states of the same IMF constituency and extending to the broader network of international organizations in which it participates”.
CBSM representatives also joined the government delegation in meetings with counterparts from other European nations as part of the EU association negotiations. These discussions highlighted broad interest in San Marino’s progress. Notably, the meeting with Andorra’s delegation proved particularly significant, providing an opportunity to align perspectives on the ongoing negotiations and shape a shared position ahead of their conclusion.
To conclude, the San Marino delegation met with representatives of the International Monetary Fund and the World Bank, who welcomed the country’s progress, recently reaffirmed by the IMF Article IV Mission 2023.